David Tepper Has 5% of His Portfolio in This Little-Known Energy Stock. Here's Why.
It may have found itself in the right place at the right time.
Overview
Billionaire David Tepper made the bulk of his fortune investing on Wall Street, so it's understandable that people would peek into his hedge fund's holdings to get a look at where he's placing his bets. As of the first quarter (Q1), Tepper's hedge fund, Appaloosa Management, had $5.93 billion in assets under management, with a surprising amount of that coming from a little-known energy company.
Vistra (NYSE: VST) was 5.12% of Appaloosa's portfolio, its seventh-largest holding. The six above it are Amazon, Micron, Alphabet, Uber, Taiwan Semiconductor Manufacturing, and Alibaba, all of which fall into the tech bucket.
Details
So, why are Tepper and Appaloosa so high on Vistra? Let's take a look.
Source
Originally published at www.fool.com.